#TrumpTariffs An unprecedented tariff wave that the administration of Donald Trump is unleashing this summer is turning into a new stress test for global trade. The basic '10% for all' rate, which comes into effect in August, is already forcing partners to prepare emergency plans: only Italy risks losing over €20 billion in exports and 118,000 jobs if no compromise is found by July 9.

China has warned Washington that the restoration of tariffs could escalate the trade truce into a critical phase and threatened to punish countries that agree to build supply chains without its participation.

In Brussels, they calculated: without a deal, the EU's GDP losses will reach 0.3%, while the US economy will decline by 0.7%.

Meanwhile, Trump has already sent letters to the leaders of Japan and South Korea about a 25% surcharge on cars and microelectronics — a signal that 'exceptions' could disappear instantly.

For traders, this means even greater volatility, for manufacturers — an urgent need to diversify markets, and for consumers — another spike in inflation. Get ready: the season of global trade upheavals is just beginning.